Assuming (G-T) remains constant
I = S(Y0)+ (G-T) - NX (point a, so NX =0, therefore I = S(Y0)
I = S(Y1)+ (G-T) - NX
Since y1 is higher, S(Y0) <S(Y1), hence NX>0 there will be CA surplus. So NX shift more to right.
This should be the right way to ans 8a. OMG! 6-7 marks gone bcos I changed my answer! Hate myself.
Seniors, uol got use bell curve ??
I have to prepare for the worst.
What happen if I 'retain' Year 1 as in retaking those units? Pay just for the exam fees or the usual fees for registration, admin and exams aka S$8000? If really need to pay that kind of sum again, might as well quit UOL and start working.![]()
Those who did PC for econs, is there price elasticity for demans for the different grps? Qns 3...
I think the qns for stats are repeated and bcos of this, the calculations are quite tedious and not enough time to finish... There goes my A![]()
Yay!No there's no price elasticity. The qn initially only said there's two consumers (locals and insurers), and insurers are required to pay the transportation cost. Only when it comes to part b when you are required to talk about consumer spending that's when you can use the price elasticity to talk about the insurers (ie when price drop, what happens when elasticity less/more than unity).
Your diagrams should be the same for elasticity wise, no distinctive differences cause the qn never specify elasticity initially, to sum up.
Those who did PC for econs, is there price elasticity for demans for the different grps? Qns 3...
I think the qns for stats are repeated and bcos of this, the calculations are quite tedious and not enough time to finish... There goes my A![]()
No there's no price elasticity. The qn initially only said there's two consumers (locals and insurers), and insurers are required to pay the transportation cost. Only when it comes to part b when you are required to talk about consumer spending that's when you can use the price elasticity to talk about the insurers (ie when price drop, what happens when elasticity less/more than unity).
Your diagrams should be the same for elasticity wise, no distinctive differences cause the qn never specify elasticity initially, to sum up.
LOL!!! Qns got state UK insurers use the toy for advertising purposes, that's a hint that demand is inelastic while locals use the toy for some repel thing and that's elastic.
LOL!!! Qns got state UK insurers use the toy for advertising purposes, that's a hint that demand is inelastic while locals use the toy for some repel thing and that's elastic.
why would using the toy for advertising purposes and using the toy for repellant
purposes lead to inelastic and elastic?